Insider Buying: Strathcona Resources Ltd. (TSE:SCR) Senior Officer Buys 8,802 Shares of Stock

Strathcona Resources Ltd. (TSE:SCR) Senior Officer Allan Grabas bought 8,802 shares of the business’s stock in a transaction on Monday, March 10th. The shares were acquired at an average price of C$27.47 per share, with a total value of C$241,790.94.

Strathcona Resources Stock Performance

Shares of TSE SCR opened at C$27.51 on Thursday. The company has a market cap of C$5.88 billion and a PE ratio of 15.87. Strathcona Resources Ltd. has a 12 month low of C$22.75 and a 12 month high of C$37.69. The company has a debt-to-equity ratio of 56.06, a current ratio of 0.53 and a quick ratio of 11.09. The company has a 50-day simple moving average of C$28.03 and a 200-day simple moving average of C$28.78.

Strathcona Resources Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a $0.25 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.64%. Strathcona Resources’s payout ratio is 57.67%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SCR shares. CIBC lifted their target price on shares of Strathcona Resources from C$35.00 to C$37.00 in a research report on Friday, January 17th. Atb Cap Markets cut shares of Strathcona Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. TD Securities cut their target price on shares of Strathcona Resources from C$32.00 to C$29.00 and set a “hold” rating for the company in a research report on Thursday, March 6th. ATB Capital lifted their target price on shares of Strathcona Resources from C$37.00 to C$38.00 in a research report on Friday, November 15th. Finally, Scotiabank lifted their price target on shares of Strathcona Resources from C$35.00 to C$37.00 in a report on Friday, November 15th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$35.50.

About Strathcona Resources

Strathcona Resources Ltd. acquires, explores, develops, and produces petroleum and natural gas reserves in Canada. It operates through three segments: Cold Lake Thermal, Lloydminster Heavy Oil, and Montney. The Cold Lake Thermal segment includes three producing assets in the Cold Lake region of Northern Alberta; and Lindbergh, Orion, and Tucker.